Collision Coverage — New York
Collision coverage pays to repair or replace your vehicle after an accident you caused or a single-car crash, regardless of fault.
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What Is Collision Coverage Insurance?
Collision coverage pays to repair or replace your vehicle when it's damaged in an accident with another vehicle or object, or when it rolls over in a single-car crash. Unlike liability coverage, which pays for damage you cause to someone else's property, collision pays for your own vehicle regardless of who was at fault. The insurer pays up to the actual cash value of the car minus your chosen deductible. If repair costs exceed the car's depreciated market value, the insurer declares it a total loss and pays you that value instead of fixing it.
Who Needs Collision Coverage Insurance?
Retirees who recently bought a newer vehicle or who drive in high-traffic areas where accident risk remains elevated should keep collision until the car's value drops below the threshold where self-insuring becomes cheaper.
Calculate your car's current actual cash value using Kelley Blue Book or NADA. Multiply your annual collision premium by three.
How Much Does Collision Coverage Insurance Cost?
- Driving record and claims history — a single at-fault accident in the past three years can raise collision premiums by 20 to 40 percent in New York.
- Garage location and theft rates — cars garaged in New York City boroughs pay higher collision premiums than those in rural upstate counties due to accident frequency and repair costs.
- Annual mileage — drivers logging under 7,500 miles per year, common among retirees, may qualify for low-mileage discounts that reduce collision costs by 10 to 20 percent with carriers like Metromile or Nationwide.
